August Pork Exports Above Year-Ago; Beef Exports Trend Lower

Fueled by another outstanding performance from Mexico, August exports of U.S. pork increased year-over-year, according to data released by USDA and compiled by the U.S. Meat Export Federation (USMEF). U.S. beef exports were below year-ago levels in August while lamb exports trended higher, posting the largest volume since January.

August pork exports totaled 238,989 metric tons (mt), up 6% from a year ago but the second lowest of 2024. Export value increased 8% to $702.9 million. For January through August, pork exports were just under 2 million mt, up 4% from a year ago, while valued climbed 7% to $5.68 billion. Pork export value was on a record pace through August, and USMEF projects both export volume and value will reach record highs in 2024.

"Mexico was once again the pacesetter for U.S. pork, but demand throughout the Western Hemisphere was outstanding in August," said USMEF President and CEO Dan Halstrom. "Shipments to South America posted the highest value on record, while exports to Central America and the Caribbean also achieved strong growth. These markets are increasingly competitive, so it is essential that the U.S. industry defends its market share while also developing marketing efforts that help expand overall consumption."

Beef exports totaled 102,682 mt in August, down 6% from a year ago and the lowest since January. Export value fell 4% to $845.9 million. Through the first eight months of the year, beef exports were 3% below last year at 856,834 mt, but were 4% higher in value at just under $7 billion.

"Beef demand in our major Asian markets seemed to lose a bit of momentum in August, but exports held up well to Mexico, Taiwan and the Middle East," Halstrom said. "The headwinds in Asia remain formidable, but we are encouraged by the region's ongoing tourism rebound. The late-September removal of Colombia's restrictions on U.S. beef is also a positive development. While this came too late to impact the August results, it will help bolster fourth-quarter demand in Latin America."

August demand for U.S. pork robust in Western Hemisphere, ASEAN region

Pork exports to leading market Mexico remain on a record pace, with August shipments up 4% from a year ago to 94,935 mt, while value climbed 9% to $230.6 million. For January through August, exports to Mexico were 8% above last year's pace in volume (758,712 mt) and 14% higher in value ($1.68 billion).

Pork export value to South America reached a record high in August at $45.3 million, up 97% from a year ago. Export value to Colombia surged to a record $39.6 million, more than doubling from a year ago and up 16% from the previous high in November 2023. Export volume to the region climbed 83% to 14,961 mt, the highest in nine months, with Colombia reaching the second largest total on record at 13,341 mt. January-August exports to South America climbed 27% from a year ago in volume (89,341 mt) and 36% in value ($263.2 million).

Soaring demand in Costa Rica, Nicaragua and Panama, as well as steady growth in leading markets Honduras and Guatemala, delivered another impressive month for U.S. pork in Central America. August exports to the region increased 31% from a year ago to 11,417 mt, valued at $36 million (up 38%). With January-August shipments trending higher year-over-year to all seven Central American markets, exports to the region increased 22% to 96,739 mt, while value climbed 32% to $302 million. Shipments to Costa Rica (12,464 mt) have already matched the full-year record volume achieved in 2023.

Other January-August results for U.S. pork exports include:

• Led by significant growth in the Philippines and record-large shipments to Malaysia, August pork exports to the ASEAN region reached 7,130 mt, up 45% from a year ago, while export value climbed 35% to $16.2 million. Through August, exports to the region were 12% above last year's pace at 54,249 mt, while value increased 2% to $118.2 million.

• Despite shipments trending lower to leading market Dominican Republic, pork exports to the Caribbean still edged higher in August, increasing 3% to 8,138 mt. Export value increased 8% to $26.2 million. For January through August, exports to the region increased 1% to 81,076 mt, while value climbed 5% to $239.2 million, with larger exports to Cuba, Trinidad and Tobago, Leeward-Windward Islands and Netherlands Antilles offsetting lower shipments to the DR and the Bahamas.

• Pork exports to Australia continued on a robust pace in August, increasing 4% from a year ago to 5,743 mt, valued at $20.9 million (up 13%). Through August, shipments to Australia climbed 32% in volume (60,117 mt) and 38% in value ($215 million). With exports also trending higher to New Zealand, January-August shipments to Oceania totaled 68,910 mt, up 32% from a year ago, valued at $248 million (up 36%).

• While August pork exports to South Korea were the lowest of 2024 at 11,049 mt, down 3% from a year ago, export value still increased slightly to $37.8 million. Exports to Korea are on the strongest pace since the 2018 record year, with January-August shipments up 28% from a year ago at 160,142 mt, with value up 34% to $546.7 million.

• Pork exports to Japan took a step back in August, falling 5% from a year ago to 26,958 mt. Export value was down 6% to $112.3 million. January-August exports to Japan were 2% below last year in both volume (235,079 mt) and value ($958.5 million).

• While demand from China/Hong Kong remains sluggish, August pork exports to the region achieved a slight year-over-year increase at 37,794 mt, while value climbed 8% to $93.8 million. Through August, exports to China/Hong Kong were 14% below last year at 303,027, while value fell 19% to $726.3 million. Pork variety meat accounts for about 70% of the export volume to China/Hong Kong, which remains the largest destination for these items.

• Pork export value equated to $64.46 per head slaughtered in August, up 10% from a year ago. The January-August average was $66.27 per head, up 5%. Exports accounted for 29% of total August pork production and 25.2% for muscle cuts only - up from 27.4% and 23.4%, respectively, a year ago. The January-August ratios were 30.2% and 26.1%, up from 29.6% and 25.3%, respectively, during the first eight months of 2023.

Beef exports trend higher to Mexico, Taiwan, Middle East, but lower overall

Mexico's demand for U.S. beef remained robust in August, with exports increasing 2% from a year ago in both volume (19,037 mt) and value ($113.2 million). For January through August, shipments to Mexico increased 13% to 153,591 mt, while value climbed 16% to $898.5 million. This included a strong increase in beef variety meat exports, which were up 15% to 81,816 mt, valued at $221.4 million (up 9%). Mexico is the largest volume destination for U.S. beef variety meat.

Beef exports to Taiwan continued to trend higher in August, with shipments increasing 4% from a year ago in both volume (5,817 mt) and value ($67.6 million). After a slow start to the year, January-August exports to Taiwan pulled within 4% of last year's volume pace at 42,669 mt, while export value climbed 6% above last year to $471.8 million.

Led by larger beef variety meat shipments to Egypt, record beef muscle cut shipments to Qatar and strengthening demand for muscle cuts in the United Arab Emirates, Kuwait and Bahrain, beef exports to the Middle East have rebounded impressively in 2024. August exports increased 40% from a year ago to 4,053 mt, valued at $17.6 million (up 18%). This pushed the January-August results 30% above last year in volume (36,501 mt) and 27% higher in value ($164.2 million).

Other January-August results for U.S. beef exports include:

Strong demand in the Philippines, Singapore and Vietnam pushed August exports to the ASEAN region to 3,374 mt, up 9% from a year ago, while export value climbed 60% to $28.4 million. For January through August, exports were slightly below last year's volume at 26,463 mt, but achieved an impressive 39% increase in value to $221.7 million.

August beef exports to the Caribbean edged slightly higher than a year ago at 2,463 mt, though export value fell 8% to $23 million. Some of this volume was newfound demand for canned beef products in Cuba, but growth was also driven by record-large shipments to the Dominican Republic, Netherlands Antilles, and Turks and Caicos and rebounding variety meat shipments to Trinidad and Tobago and Jamaica. For January through August, exports to the region were 23% above last year at 22,254 mt, while export value climbed 9% to $187 million.

August beef export volume to Japan slipped modestly compared to last year, falling 2% to 20,585 mt. Export value declined more significantly, down 9% to $158.4 million. For January through August, export volume to Japan was steady with last year at 169,636 mt, while export value was 5% higher at $1.31 billion.

Beef exports to South Korea also trended lower in August, down 13% from a year ago in volume (17,128 mt, the lowest since 2020) and 5% lower in value ($163.1 million). Through August, exports to Korea managed a slight increase in value ($1.43 billion, up 1%) despite a 12% decline in volume (151,065 mt).

August exports to China/Hong Kong declined 10% from a year ago to 17,131 mt, while export value fell 8% to $155.3 million. January-August exports to the region were down 11% from a year ago in volume (139,382 mt) and were 6% lower in value ($1.29 billion). In recent weeks the Chinese government unveiled long-awaited measures aimed at stimulating the nation's sluggish economy. Some aspects of this package could provide a boost to China's foodservice sector, which is still struggling to recover from the COVID era.

As noted above, Colombia recently repealed its ban on U.S. beef originating from 14 states in which H5N1 was detected in dairy cows. These restrictions, which began in April, decimated beef exports to Colombia, which fell to just 73 mt in August, valued at about $600,000. The Colombian market had been averaging more than $3 million in monthly shipments before restrictions were imposed, and USMEF is actively working to rebuild demand now that full access has been restored.

Beef export value equated to $391.19 per head of fed slaughter in August, down 1% from a year ago. The January-August average was $414.88 per head, up 5%. Exports accounted for 13% of total August beef production and 10.7% for muscle cuts only - each down about one-half percentage point from a year ago. The January-August ratios were 13.9% of total production and 11.6% for muscle cuts, down from 14.3% and 12%, respectively, during the same period in 2023.

August lamb exports largest since January

Exports of U.S. lamb reached 288 mt in August, up 170% from last year's low volume. Export value was $1.16 million, up 70%. These results drove January-August exports 20% above last year's pace in volume (1,946 mt) and 23% higher in value ($10.2 million). While larger shipments to the Caribbean and Mexico accounted for most of this growth, exports also trended higher year-over-year to the Philippines, Canada, Guatemala and Taiwan.

Complete January-August export results for U.S. pork, beef and lamb are available from USMEF's statistics web page.

For questions, please contact Joe Schuele or call 303-547-0030.

NOTES:

• Export statistics refer to both muscle cuts and variety meat, unless otherwise noted.

• One metric ton (mt) = 2,204.622 pounds.

• U.S. pork and beef currently face retaliatory duties in China. In February 2020, China announced a duty exclusion process that allows importers to apply for relief from duties imposed in response to U.S. Section 301 duties. When an application is successful, the rate for U.S. beef can decline to the MFN rate of 12% and the rate for U.S. pork can decline to 37% (the MFN rate plus the 25% Section 232 retaliatory duty, which remains in place).